Spar Group stockholders approve merger with Highwire Capital

Spar Group (SGRP) announced that its stockholders approved at a special meeting the acquisition of Spar Group by Highwire Capital. Under the terms of the Agreement and Plan of Merger, dated as of August 30, by and among Spar Group, Highwire Capital and Highwire Merger Co. I, Inc., a wholly owned subsidiary of Highwire Capital, SGRP stockholders will receive $2.50 in cash per share of common stock. Spar Group expects to announce the consummation of the transaction later in the fourth quarter of 2024, subject to the satisfaction of certain customary closing conditions set forth in the merger agreement. Upon completion of the transaction, Spar Group will become a privately held company, and its stock will no longer be traded on Nasdaq.